You’ve saved it, now spend it: Why are some retirees so reluctant to spend money when they can afford to?
We often hear about the fear of not having enough money in retirement, but what about the flip side — retirees who don’t spend what they’ve worked hard to sock away? Retirement is supposed to be the reward for decades of working and saving. So why are so many Canadians hesitant to dip into their nest eggs?
It’s a question that Malcolm Hamilton, a senior fellow of the C.D. Howe Institute and retired actuary, has concerned himself with throughout his career, dealing with pension plans, the costs of retirement, and how people behave in retirement.
Increased life expectancy also has Canadians concerned about long-term finances. Samantha Sykes, a financial adviser with Raymond James, says the cost of long-term care, retirement homes and private personal support workers has skyrocketed. She says a lot of insurance companies have stopped offering long-term-care insurance policies, which means many people will have to pay out-of-pocket for long-term care.
The elite have sucked up 70%+ of the money, I imagine most of it is now locked up in retirements and propertys.
They have to get it somehow.
Im ranting here, but fuck do I really hate boomers, again im falling for the divide and conquer thing. But this is a very easy group to blame. All they did was protect their own self interests and said fuck every single younger person.
Very few of these faggots ever stood up and did that right thing. I am enjoying the stories about peoples moms and dads being denied workers comp over even stupid shit now. Lots of stories about peoples father or mother dying from cancer because they dont have a family doctor, werent taken seriously, etc. Ive been reading alot of comments in the local subreddits these days, a lovelier group of faggots doesnt deserve it more.
They sold out humanitys future for their own comfort, thinking they would be dead before shit got real bad.
Hope you enjoyed this life you old ass geriatric greedy pieces of shit.
It already reached a point where many people don't even understand that you can save and then buy things in cash upfront and without taking a loan. (i.e. saving the full amount and buying a car or a home for instance without taking a loan/monthly installments)
Not just young people. Been seeing this article which keeps popping up in my news feed the last few days.
https://www.thestar.com/business/personal-finance/youve-saved-it-now-spend-it-why-are-some-retirees-so-reluctant-to-spend-money/article_e2f3227e-819d-11ef-bdc2-e3fcbd32c9c3.html
https://archive.is/LQbnK
The elite have sucked up 70%+ of the money, I imagine most of it is now locked up in retirements and propertys.
They have to get it somehow.
Im ranting here, but fuck do I really hate boomers, again im falling for the divide and conquer thing. But this is a very easy group to blame. All they did was protect their own self interests and said fuck every single younger person.
Very few of these faggots ever stood up and did that right thing. I am enjoying the stories about peoples moms and dads being denied workers comp over even stupid shit now. Lots of stories about peoples father or mother dying from cancer because they dont have a family doctor, werent taken seriously, etc. Ive been reading alot of comments in the local subreddits these days, a lovelier group of faggots doesnt deserve it more.
They sold out humanitys future for their own comfort, thinking they would be dead before shit got real bad.
Hope you enjoyed this life you old ass geriatric greedy pieces of shit.
It already reached a point where many people don't even understand that you can save and then buy things in cash upfront and without taking a loan. (i.e. saving the full amount and buying a car or a home for instance without taking a loan/monthly installments)
Lmao much easier to do when a car cost 10,000, and not 30K.
not having debt is anti-Semitic